Ainos Announces Placement Of Initial $3M Tranche Of $10M Private Placement; Proceeds To Fund Company's Clinical Trials, Commercial Product Launch, And Working Capital; Initial Conversion Price Set At $1.50 Per Share
Portfolio Pulse from Benzinga Newsdesk
Ainos, Inc. (NASDAQ: AIMD) has announced a $3 million initial tranche of a $10 million private placement with Lind Global Fund II LP. The proceeds will be used to fund clinical trials, commercial product launch, and working capital. The investment is in the form of a Senior Secured Convertible Promissory Note with an 18-month maturity and an initial conversion price of $1.50 per share. The investor was also granted five-year warrants equal to 75% of the funded amount at an initial exercise price of $0.90 per share.
September 25, 2023 | 12:33 pm
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Ainos, Inc. has secured a $3 million initial tranche of a $10 million private placement. This funding will support the company's clinical trials, product launch, and working capital, potentially boosting its stock value.
The secured funding will allow Ainos to progress with its clinical trials and product launch, which could lead to increased revenues and a potential boost in stock value. The conversion price of $1.50 per share and the exercise price of $0.90 per share for the warrants could also influence the stock price.
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